Palm Harbor Commercial Building For
660 Alderman Rd, Palm Harbor, FL 34683
For Sale
Contact for pricing
Commercial building with redevelopment potential in Palm Harbor, Florida.
Property Size3,528 SF
Lot Size0.55 Acres
Price / SF$282.03
Days on Market257
Property Features for 660 Alderman Rd
General Information
Standard status
Size
Class
Total Parking Spaces
Lot size
Property subtype
Zoning
Occupancy
Lease Type
Investment Type
Net Operating Income
Building Details
Year Built
Year Renovated
Buildings
Units
Listing Agency:
Foresight Property Services LLC
Listed By:
Manny Konstantinidis · License FL SL3327653
Source:
Crexi
Added: Mar 3
Changed: Nov 12
Last Checked: Nov 12 at 7:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Foresight Property Services LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located in Palm Harbor, the property at 660 Alderman Road presents an investment opportunity with both near-term income and long-term redevelopment potential. The site features a 3,528 square foot commercial building on a 23,958 square foot parcel. The property is currently occupied by a long-standing tenant under a NNN lease since 2008, which runs through October 2026. The lease generates $80,915.88 in annual base rent. The tenant has expressed interest in extending the lease. Zoned C-2, the property allows for a wide range of commercial uses and is positioned for future redevelopment as the surrounding Palm Harbor market continues to strengthen. The property benefits from visibility along Alderman Road, convenient access, ample on-site parking, and a well-maintained building. This property offers a flexible commercial asset in a Pinellas County submarket with multiple paths to value creation.
Key Highlights
- NNN lease in place through October 2026 generating $80,915.88 annual base rent.
- Zoned C‑2, allowing for a wide range of commercial uses.
- Long‑standing tenant since 2008 with expressed interest in extending the lease.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,008
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$840,160
$840.2K
Cap Rate 7%
$600,114
$600.1K
Cap Rate 9%
$466,756
$466.8K
Market Conditions
NOI Build-Up for 3,528 SF
Gross rent
$63.5K $18.00/SF
− Vacancy
−$3.5K −$0.99/SF
EGI
$60.0K $17.01/SF
− OpEx
−$18.0K −$5.10/SF
NOI
$42.0K $11.91/SF
Area
Pinellas County, FL
Vacancy
5.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$840,160
Cap Rate 7%
$600,114
Cap Rate 9%
$466,756
Alternative Uses
Best Use
Retail
$600.1K
$525.1K – $700.1K
NOI $42,008 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$917.7K
$803.0K – $1.07M
NOI $64,236 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
48k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 62%
Shops & Services 31%
Dining 6%
Publix
Groceries
29,874 visits/mo
0.1 miles
REBEL Convenience Store
Shops & Services
7,471 visits/mo
0.1 miles
Chase Bank
Shops & Services
4,418 visits/mo
0.1 miles
Jeremiah's Italian Ice
Dining
3,113 visits/mo
0.1 miles
Regions Bank
Shops & Services
1,681 visits/mo
0.1 miles
Demographics for 34683, FL
33,453
Population
15,686
Households
2.1
Avg Household Size
49
Median Age
43%
College-Educated
95%
High-School Grad
10.3 sq mi
ZIP Area
3,248
Density / Sq Mi
$90,037
Median Household Income
$53,330
Median Earnings
$1,655
Median Rent
$424,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Retail space in Pinellas County, FL
Properties on Market for Retail space in Pinellas County
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Commercial building with redevelopment potential in Palm Harbor, Florida.
Where is this retail space located?
The property is located at 660 Alderman Rd Palm Harbor, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: NNN lease in place through October 2026 generating $80,915.88 annual base rent.; Zoned C‑2, allowing for a wide range of commercial uses.; Long‑standing tenant since 2008 with expressed interest in extending the lease.
